Benefits of Digital Accounting Software for Your Small Business
Moving your accounts online might seem like a big step, but it’s easier than you think. Let us show you how digital accounting software can make your bookkeeping straightforward and help you meet your MTD needs.
Making Tax Digital (MTD) is Here
Why Your Business Needs Digital Software Now
The way businesses and landlords in the UK manage their taxes is changing, and Making Tax Digital (MTD) is leading that charge. MTD isn’t just a future idea; it’s already a reality for VAT-registered businesses, and its expansion to Income Tax Self Assessment (ITSA) is firmly underway.
- MTD for VAT: Is already mandatory for all VAT-registered businesses.
- MTD for Income Tax Self Assessment (ITSA):
- From April 2026: Affects sole traders and landlords with qualifying annual gross income over £50,000.
- From April 2027: Extends to those with qualifying annual gross income over £30,000.
- From April 2028: Planned to include those with qualifying annual gross income over £20,000.
What does this mean for you? If you fall into these categories, or expect to soon, you’ll be required by HMRC to keep digital records and submit your tax information using MTD-compatible software. Traditional methods like spreadsheets (without bridging software) or paper records simply won’t meet these new rules.
This is the single biggest reason why now is the time to embrace digital accounting software. It’s essential for compliance, helps you avoid potential penalties, and frankly, makes managing your tax obligations much simpler in the long run. Pier View Accounting is here to help businesses in Clevedon, Bristol, and North Somerset understand these MTD requirements and get set up with the right digital tools.
More Than Just MTD: Real Benefits for Your Small Business
How Digital Software Makes Your Business Life Easier
While Making Tax Digital (MTD) is a key reason to go digital, the advantages don’t stop there. For your Clevedon, Bristol, or North Somerset business, the right digital and cloud accounting software brings day-to-day benefits that genuinely simplify how you manage your money and save you time::
- Saves You Time: Automates many routine bookkeeping tasks.
- Clearer Finances: Get an accurate, up-to-date view of your money.
- Get Paid Faster: Create smart invoices and track payments easily.
- Simpler Expenses: Keep track of spending without the fuss.
What does this mean for you and your business in practical terms? It means less time buried in paperwork and more time focusing on what you do best. Instead of wrestling with spreadsheets or manual records, you’ll have a system – often cloud-based so it’s accessible anywhere – that actively helps you stay organised, make fewer errors, and understand your financial position at a glance. It prepares you for MTD and gives you greater control and peace of mind over your business finances. Pier View Accounting can help you unlock these benefits.
FreeAgent: Making Digital Accounting Simple and Effective
Why We Recommend FreeAgent for Your Business
Now that you see the advantages of digital accounting, you might wonder which software is best, and what it costs. At Pier View Accounting, we often recommend FreeAgent to our small business and landlord clients. It’s user-friendly cloud accounting software, designed specifically for you, fully MTD-compliant, and here’s why it stands out:
- Free!: Get it at no extra cost if you bank with NatWest, RBS or Mettle
- User-Friendly: Easy to learn and use, even if you’re not an expert.
- MTD Ready: Stress-free submissions for VAT and Income Tax.
- Saves Time: Smart features like automatic bank feeds.
- All-in-One: Invoicing, expenses, payroll (if needed) & more.
What does choosing FreeAgent mean for your day-to-day business life in Clevedon, Bristol, or North Somerset? Beyond being a powerful yet straightforward tool that clarifies your finances, a fantastic benefit is the potential cost saving. Many of our clients can access the full version of FreeAgent completely free of charge simply by having a business current account with NatWest, Royal Bank of Scotland, Ulster Bank, or Mettle. This removes a significant subscription cost while giving you access to premium, MTD-compliant software.
You can create professional invoices in minutes, track your expenses on the go (even by snapping photos of receipts), and see your bank transactions flow in automatically. Because FreeAgent is built for businesses like yours, and as Certified FreeAgent Partners, Pier View Accounting can help you check your eligibility for a free version and get the most out of it, ensuring your transition is smooth and you feel confident managing your accounts digitally.
We're Here to Help You Go Digital
Getting Set Up and Running Smoothly
Moving to digital accounting can feel like a big step, but Pier View Accounting makes it simple. We’re here to support businesses and landlords in Clevedon, Bristol, and North Somerset every step of the way:
- Software Selection: We help you choose the best fit for your needs (including FreeAgent, Xero, and QuickBooks).
- Seamless Setup: We get your software set up correctly and connected to your bank feeds.
- Personalised Training: We ensure you’re confident using your new digital tools.
- Ongoing Support: We’re always on hand to answer questions and provide assistance.
What does this mean for you when you work with us? It means you don’t have to face the transition to digital accounting alone. Whether you’re drawn to FreeAgent’s user-friendliness and potential cost savings with certain bank accounts, or you already use or prefer Xero or QuickBooks, we’ve got you covered.
Pier View Accounting provides comprehensive support. We guide you through the initial setup, ensuring your software is properly configured and integrated with your bank accounts. We provide clear, practical training to get you comfortable using the software’s features. And we’re always available for ongoing support, answering your questions and helping you resolve any issues that may arise. Our goal is to make your move to digital accounting as smooth and stress-free as possible, empowering you to manage your finances with confidence.
Take Control of MTD with Digital Accounting
Ready to discuss your digital accounting software requirements and ensure you’re prepared for MTD?
Pier View Accounting offers expert guidance on selecting, implementing, and using software like FreeAgent, as well as Xero and QuickBooks. We can help you understand your obligations and find the most efficient solution for your business.
Call us on 0117 427 0470